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Alpha Finance Lab (ALPHA) climbs 196% to a monthly high of $ 0.89 on improving fundamentals c.

The ALPHA award turned bullish shortly after the project introduced staking, simplified farming options, and a launchpad for new blockchain projects.

Bitcoin price continues to trade in a predictable range that has given traders confidence to trade Altcoins and DeFi tokens. This resulted in the Alpha Finance Lab (ALPHA) price increasing 100% in the past four days.

Data from TradingView shows that ALPHA’s price has risen 196% from its low of $ 0.30 on June 22 to a monthly high of $ 0.89 on July 6, while the volume of the 24- Hour trading increased 433% to $ 293 million.

ALPHA price table | Source: TradingView

Reasons for motivation for ALPHA are protocol improvements for Alpha Homora V2, the introduction of Alpha Launchpad and an attractive price-earnings ratio (P / E) compared to competing platforms.

Protocol upgrade promotes interoperability

The biggest upgrade of the Alpha Finance Lab protocol in February with the introduction of Alpha Homora V2 brings a new level of interoperability to the project by allowing users to do profitable farming (yield farming) with the use of Curve, Balancer, SushiSwap and To carry out Uniswap.

The excitement surrounding the launch drove the ALPA price to an all-time high of $ 2.95 on February 6, but the Iron Bank hack on February 13 pulled $ 37 million from trading.

After the hack, the integration with Binance Smart Chain (BSC), the staking of ALPHA and the introduction of AlphaX, a “booking-free perpetual swap product” to enable long and short positions, contributed to a price increase for ALPHA.

The Alpha Homora V2 also includes a basic farming mode designed to simplify the process, and the recently announced Alpha Launchpad claims to be the “first and only DeFi incubator by engineers for engineers”.

The Launchpad version was mentioned in a recent Delphi Digital report that identified the launch as a “potential catalyst for alpha” that may not be available in the market yet.

“Alpha Launchpad will potentially add more value to token holders as they receive some of the cash flow from new protocols incubated by the Alpha Finance Lab ecosystem.”

Fee income creates a compelling value proposition

One of the more notable features of the ALPHA protocol is its fee structure, which is 20% of all interest on V2 and 10% of interest on V1 to pay contractors.

A recent report from Delphi Digital highlighted the protocol’s fee structure, calculating that the V2 protocol’s annual income is projected to be $ 6.53 million, meaning “alpha trades at a price P / E ratio are relatively cheap Compared to its peer group are “.

Money market fundamentals ALPHA | Source: Delphi Digital

As shown above, the fees generated per dollar of Total Value Locked (TVL) are significantly higher compared to competing platforms.

Delphi Digital adds:

“From a capital efficiency perspective, Alpha is in its own arena, with fees it generates per dollar of TVL at $ 0.27. In second place for this metric is Compound at $ 0.05. “

Alpha Finance Labs also said that annual fee income for the project is expected to be around $ 15.28 million across all platforms.

ALPHA set out since the start | Source: Twitter

When that number is combined with the continued increase in the number of ALPHA tokens deployed on the network, the bullish argument for Alpha Finance Lab is further reinforced as DeFi becomes part of the key discussions.

According to analyst Rekt Capital, the ALPHA price is likely to rise sharply in the short term.

$ ALPHA / #BTC – #Alpha #Alphafinancing

ALPHA made a phenomenal start this week

But it has reached a critical resistance area (red)

I would only expect another uptrend when red converts to support as it could trigger an additional + 40% rally towards orange#Crypto pic.twitter.com/RZlrB4Nk8W

– Rekt Capital (@rektcapital) July 6, 2021